Ripple CEO Supports Treasury Push for CLARITY Act Ahead of Senate Vote

Ripple chief executive Brad Garlinghouse publicly endorsed Treasury Secretary Scott Bessent’s appeal to senators to advance the CLARITY Act, arguing that the legislation reflects substantial policy compromises and deserves Senate support.

Garlinghouse’s Appeal to Senators

Speaking on September 14, Garlinghouse said the final draft of the CLARITY Act is the result of “real, substantive trades” made by policymakers and urged lawmakers not to wait for a perfect bill. He framed the legislation as a step toward the United States achieving its goal of becoming a global crypto hub.

Key Provisions Targeting Stablecoins

Bessent highlighted a new Treasury authority that would allow the department to intervene if payment stablecoins trigger deposit flight that harms community banks. The provision links the Treasury’s protective tools to the broader administration effort to support digital‑asset development while safeguarding smaller banks.

Legislative Landscape

The final CLARITY Act draft incorporates 126 changes requested by Democrats, covering ethics enforcement, digital‑asset oversight, decentralized finance, banking provisions, developer protections, and other regulatory areas. Senate Republicans presented these revisions as essential concessions to secure broader support.

Procedural Vote Scheduled

The Senate is set to hold a cloture vote on September 15 to move the Digital Asset Market Clarity Act (H.R. 3633) forward for formal consideration. Approval would advance the bill toward a final vote rather than sending it directly to the president.